FCEL vs PLUG vs NEWH Stock Comparison

Fuelcell Energy, Plug Power and NewHydrogen Prices as of Oct 27, 2026 Peers: Industry group
FCEL Fuelcell Energy Inc
$12.18 -26.1% 1M +54.4% 1Y
Market cap
$864.58M
P/E
–
Revenue (TTM)
$154.14M
Div. yield
–
Fuel Cells Industrials
4 wins
PLUG Plug Power Inc
$1.40 -29.3% 1M -52.7% 1Y
Market cap
$1.97B
P/E
–
Revenue (TTM)
$744.09M
Div. yield
–
Hydrogen Energy
4 wins
NEWH NewHydrogen, Inc.
$0.02 0.0% 1M -50.0% 1Y
Market cap
$17.14M
P/E
–
Revenue (TTM)
—
Div. yield
–
Hydrogen Energy
1 win

Head to Head

9 decided of 12

Plug Power leads on 4 of the 12 questions below (Plug Power 4, Fuelcell Energy 4, NewHydrogen 1). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionFCELPLUGNEWHLeader
Larger companyMarket capitalisation $864.58M $1.97B $17.14M PLUG
Cheaper on earningsLower P/E, profitable companies only -4.8x -1.2x -4.9x –
Cheaper on forward earningsLower price / next fiscal year consensus EPS — — — –
Faster revenue growthRevenue growth, trailing twelve months +1.1% +10.6% — PLUG
More profitableNet margin, trailing twelve months -115.7% -220.6% — FCEL
Better return on capitalReturn on invested capital -20.5% -188.4% — FCEL
Less leveragedLower net debt / EBITDA 4.6x 0.1x — PLUG
Higher dividend yieldTrailing dividend yield 0.00% 0.00% 0.00% –
Better 1-year returnPrice return, last 12 months +54.4% -52.7% -50.0% FCEL
Better 5-year returnAnnualised price return, 5 years -44.3%/yr -48.1%/yr 0.0%/yr NEWH
Less volatileAnnualised volatility, 1 year 131.3% 78.1% 274.0% PLUG
Higher overall scoreMean of the five percentile scores vs peers 38/100 23/100 33/100 FCEL

Percentile Scorecard

FCELPLUGNEWH

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisFCELPLUGNEWH
Valuation 37 #39 of 61 0 #11 of 11 10 #10 of 11
Growth 30 #41 of 58 70 #4 of 11 10 #10 of 11
Profitability 33 #37 of 55 0 #9 of 9 –
Financial Health 81 #14 of 71 20 #9 of 11 80 #3 of 11
Shareholder Returns 7 #28 of 30 – –
Overall 38 23 33
  • FCEL ranked among 71 companies in Clean Energy Equipment
  • PLUG ranked among 11 companies in Renewable Fuels
  • NEWH ranked among 11 companies in Renewable Fuels

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodFCELPLUGNEWHSPY
1 month -26.1%-29.3%0.0% -0.2%
3 months -38.0%-28.6%+100.0% +3.9%
6 months +22.5%-53.8%-50.0% +8.2%
Year to date +66.6%-28.9%0.0% +12.9%
1 year +54.4%-52.7%-50.0% +12.3%
3 years -61.0%-76.3%+100.0% +87.4%
3 years, per year -26.9%-38.1%+26.0% +23.3%
5 years -94.6%-96.2%0.0% +67.9%
5 years, per year -44.3%-48.1%0.0% +10.9%
10 years -99.1%-10.3%-75.0% +261.1%
10 years, per year -37.4%-1.1%-12.9% +13.7%

Risk

MeasureFCELPLUGNEWHSPY
Volatility, 1Y 131.3%78.1%274.0% 12.7%
Downside volatility, 1Y 113.4%70.0%857.0% 12.7%
Beta vs S&P 500, 1Y 3.742.25-0.09 1.00
Return / volatility, 1Y 0.41-0.67-0.18 0.97
Max drawdown, 5Y -98.9%-98.4%-83.3% -25.4%
From 52-week high -66.2%-66.2%-50.0% -1.2%
52-week high $36.01$4.14$0.04 $779.14
52-week low $6.00$1.37$0.01 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleFCELPLUGNEWH
P/E now vs peer median -4.8xmedian 27.2x -1.2xmedian 10.6x -4.5xmedian 10.6x
P/S now vs peer median 6.3xmedian 2.4x 2.6xmedian 1.2x —median 1.2x
EV/EBITDA now vs peer median -2.4xmedian 18.4x -1.4xmedian 14.2x -4.5xmedian 14.2x
P/FCF now vs peer median -9.6xmedian 28.6x -3.5xmedian 14.1x -6.6xmedian 14.1x
P/B now vs peer median 1.0xmedian 1.7x 3.3xmedian 1.1x -6.2xmedian 1.1x
PEG now vs peer median 0.05median 0.79 -0.21median 0.19 -0.17median 0.19

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsFCELPLUGNEWH
Revenue $154.14M $744.09M –
Gross profit -$49.92M -$138.00M –
Operating income -$179.19M -$1.29B -$3.49M
Net income -$178.30M -$1.71B -$3.49M
Free cash flow -$101.12M -$560.50M -$2.45M
R&D $28.64M $53.94M $1.04M
EPS (diluted) $-2.53 $-1.18 $0.00
Cash & equivalents $658.10M $161.90M $739.53K
Total debt $18.80M $314.00K –
Shares (diluted) 70.41M 1.39B 789.92M
Enterprise value -$756.62M $1.05B $12.94M

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricFCELPLUGNEWH
P/E -4.8x -1.2x -4.5x
P/FCF -9.6x -3.5x -6.6x
P/Operating cash flow -10.1x -4.1x -6.6x
P/S 6.3x 2.6x –
P/B 1.0x 3.3x -6.2x
P/Tangible book 1.0x 3.5x -6.1x
EV/EBITDA -2.4x -1.4x -4.5x
EV/EBIT -1.9x -1.4x -4.5x
EV/Revenue 2.2x 2.4x –
EV/FCF -3.3x -3.2x -6.3x
EV/Operating cash flow -3.5x -3.7x -6.3x
PEG (3Y EPS CAGR) 0.05 -0.21 -0.17

Growth

14 metrics
MetricFCELPLUGNEWH
Revenue growth (1Y) 1.1% 10.6% –
Revenue CAGR (3Y) 3.2% -5.4% –
Gross profit growth (1Y) -62.6% 70.1% –
Gross profit CAGR (3Y) -27.2% 20.4% –
Operating income growth (1Y) 12.6% 31.3% -73.9%
Operating income CAGR (3Y) -8.0% -15.4% 24.5%
Net income growth (1Y) 11.6% 13.3% -74.3%
Net income CAGR (3Y) -13.9% -26.9% 24.5%
EPS growth (1Y) 69.5% 32.5% -55.7%
EPS CAGR (3Y) -104.7% 5.5% 27.3%
Operating cash flow growth (1Y) 0.3% 20.0% -39.7%
Operating cash flow CAGR (3Y) 13.4% 22.8% -21.4%
Free cash flow growth (1Y) 18.9% 31.6% -39.7%
Free cash flow CAGR (3Y) 17.8% 30.6% -21.4%

Profitability

14 metrics
MetricFCELPLUGNEWH
Gross margin -32.4% -18.5% –
EBITDA margin -89.9% -168.2% –
Operating margin -116.3% -172.8% –
Pretax margin -115.7% -229.0% –
Net margin -115.7% -220.6% –
FCF margin -65.6% -75.3% –
Operating cash flow margin -62.5% -64.9% –
Return on equity -20.8% -251.3% –
Return on assets -15.4% -75.0% -439.4%
Return on invested capital -20.5% -188.4% –
Return on capital employed -16.9% -72.0% -443.1%
Asset turnover 0.1x 0.3x –
Cash conversion (OCF / net income) 0.5x 0.3x 0.7x
Stock comp / revenue 6.4% 7.2% –

Financial Health

11 metrics
MetricFCELPLUGNEWH
Debt / assets 1.4% 0.0% –
Debt / equity 0.0x 0.0x –
Net debt / EBITDA 4.6x 0.1x –
Debt / FCF -0.2x 0.0x –
Liabilities / assets 25.0% 73.2% 426.6%
Equity / assets 75.0% 26.8% -326.6%
Interest coverage -16.0x -17.9x –
Current ratio 8.7x 2.3x 123.3x
Quick ratio 7.3x 0.8x 114.7x
Cash ratio 6.8x 0.3x 114.7x
Altman Z-score 0.01 -6.06 –

Shareholder Returns

7 metrics
MetricFCELPLUGNEWH
Dividend yield – – –
Net buyback yield -60.4% -2.5% –
Shareholder yield -60.4% -2.5% –
Payout ratio (earnings) – – –
Payout ratio (FCF) – – –
Dividend growth (1Y) – – –
Dividend CAGR (3Y) – – –

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusFCELPLUGNEWH
EPS, next fiscal year $-2.70FY2026 $-0.41FY2026 –
Revenue, next fiscal year $153.46MFY2026 $799.33MFY2026 –
Revenue growth, next FY -3.0%FY2026 +12.6%FY2026 –
Revenue growth, the year after +71.6% +28.0% –

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersFCELPLUGNEWH
Held by institutions 65.0% 58.3% –
Institutions holding 226 508 –
Change in shares held, QoQ +67.3% +8.0% –
Institutions buying 161 276 –
Institutions selling 38 105 –
Buyers to sellers 4.24 2.63 –

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

FCELPLUGNEWH
FCEL 1.00 0.57 0.01
PLUG 0.57 1.00 0.05
NEWH 0.01 0.05 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, FCEL, PLUG and NEWH?

Plug Power (PLUG) is the largest by market capitalisation: Fuelcell Energy (FCEL) $864.58M, Plug Power (PLUG) $1.97B, NewHydrogen (NEWH) $17.14M.

Which company is growing faster?

Plug Power (PLUG) grew revenue fastest over the trailing twelve months: Fuelcell Energy (FCEL) +1.1%, Plug Power (PLUG) +10.6%.

Which company is more profitable?

Fuelcell Energy (FCEL) has the highest net margin (Fuelcell Energy (FCEL) -115.7%, Plug Power (PLUG) -220.6%). On return on invested capital, Fuelcell Energy (FCEL) leads (Fuelcell Energy (FCEL) -20.5%, Plug Power (PLUG) -188.4%).

Which stock has performed better?

Over the past year Fuelcell Energy (FCEL) returned the most: Fuelcell Energy (FCEL) +54.4%, Plug Power (PLUG) -52.7%, NewHydrogen (NEWH) -50.0%. Over five years, NewHydrogen (NEWH) compounded fastest (Fuelcell Energy (FCEL) -44.3%/yr, Plug Power (PLUG) -48.1%/yr, NewHydrogen (NEWH) 0.0%/yr). Returns are price only, before dividends.

Which stock is riskier?

By one-year price volatility, Plug Power (PLUG) has been the steadiest (Fuelcell Energy (FCEL) 131.3%, Plug Power (PLUG) 78.1%, NewHydrogen (NEWH) 274.0%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, FCEL, PLUG and NEWH?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Plug Power (PLUG) leads on 4. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.